Egypt’s IDA to launch 1.75 mln sqm for investors before year-end

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Egypt’s Industrial Development Authority (IDA) is planning to launch a number of land plots over 1.75 million square metres for investors until the end of this year, official sources in the authority said on Wednesday.

“The authority is set to launch next week 750,000 square metres across all the different industrial zones in Egypt for investors,” the sources further told Amwal Al Ghad.

Badr and 10th of Ramadan cities will capture the lion’s share of 500,000 square metres of the IDA’s new launch, the sources said. The remaining 250,000 square metres will locate in other cities across the country, they added.

“We are looking to launch around one million square metres in Sadat City at the end of next December,” the sources said.

IDA has offered 30 million square metres in the country’s various areas for investment since July 2016.

Egyptian Ministry of Industry and Trade is seeking to launch 30 million square metres till the end of 2020. This comes as part of the ministry’s scheme to launch new 60 million square metres for investors.